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Deus token struggling, following a hack attack on its stablecoin DEI

Cryptopia Account hacked

Because of a hacking attack, the Decentralized Finance (DeFi) protocol DEUS lost $6 million. 

DEUS is a decentralized bilateral OTC derivatives platform that provides unlimited exposure to the global markets for users & developers.

On 5 May 2023, DEUS Finance faced a hack attack because of a vulnerability in its stablecoin DEI. The hacker targeted BNB Smart Chain (BSC)  as well as the Arbitrum network. Through the hack attack, the hacker succeeded to grab $6.3 million.

Few people claimed that the hacker succeeded to attack because of a basic token implementation error.

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Crypto security platform Peckshield reported that the hacker used a bot to conduct his attack against the vulnerability.

The DEUS finance team urged people not to interact with any DEI protocol, until the post mortem of the whole incident.

Today, the DEUS finance team confirmed that they are open to giving 20% of the stolen money as a reward to the hacker, and that the team will not initiate any legal action against the hacker, if the hacker will release 80% of the stolen funds.

So far, the hacker failed to respond on this matter & people are expecting that the Deus platform will probably get nothing in this situation because of the very soft stance against the hacker.

Deus token price action

Deus is the native token of DeusDao & the current trade price of this token is $44.24. The price graph of this token is clearly showing that the token is struggling badly to again reach the $60 trade price.

Deus token struggling, following a hack attack on its stablecoin DEI 3

Read also: CoinDCX decides not to list Pepe token 

Deus token struggling, following a hack attack on its stablecoin DEI

 

https://bitcoinik.com/deus-token-struggling-following-a-hack-attack-on-its-stablecoin-dei/feed/

https://bitcoinik.com/deus-token-struggling-following-a-hack-attack-on-its-stablecoin-dei/feed/

 

 

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